LONDON (Alliance News) - Clontarf Energy PLC Monday said that a group of investors may take a strategic stake in the business, though talks are at an early stage.
"An investing group has been examining an investment proposal for the company. Negotiations have been very slow but continue. Should it happen it would involve the investors taking a strategic stake as well as providing some management. It is early stage," Chairman John Teeling told shareholders at the company's annual meeting.
The investment group was not named.
The company's shares were untraded on Monday. The stock last traded at 0.401 pence.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Clontarf (CLON)